AAR Acquires Aircraft Paint Stripping and Washing Business in Miami
September 14, 2016
Expands aircraft services and footprint at the airport with Sonic Aviation
WOOD DALE, Illinois, September 14, 2016 – AAR (NYSE: AIR), recognized for its industry-leading airframe maintenance and inventory management solutions for the world’s airlines, announces it has acquired an aircraft paint stripping and washing business, Sonic Aviation, located at Miami International Airport.
Sonic’s strip and wash services, including ground support equipment (GSE), complements AAR’s existing aircraft painting business and will add a new, distinctive aircraft maintenance capability to AAR’s full range of aviation services, including aircraft maintenance, repair and overhaul (MRO) at its five repair stations in North America, and its global parts supply and component repair business segments serving commercial and government customers around the world. AAR’s 1MRO Network includes facilities in Miami; Duluth, Minn.; Indianapolis, Ind.; Oklahoma City, Okla., and provides consistent, high-quality service no matter where the work is performed. A new MRO designed to handle next-generation aircraft is opening soon in Rockford, Ill.
“The acquisition of Sonic moves AAR into an adjacent vertical and will further extend our ability to provide value-added services to airlines,” said Brian Loomer, General Manager, AAR Aircraft Services – Miami. “We are also excited to expand our presence at Miami International Airport and grow the only aircraft and GSE washing service into a 24/7 business.”
Miami International Airport houses AAR’s FAA-certified repair station in three hangar bays of 226,000 square feet where it conducts heavy maintenance, modifications, installations and paint services on narrow- and wide-body aircraft for U.S. and Latin American operators. Located nearby is AAR’s base of operations for its aircraft wheels, brakes, and landing gear repair services.
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair and Overhaul (MRO) Services. AAR’s Expeditionary Services include Mobility Systems operations. Additional information can be found at www.aarcorp.com.
Media contact: Daniela Pietsch, Vice President Corporate Marketing & Communications, at firstname.lastname@example.org or +1 630-227-5100.
This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including, but not limited to,statements regarding the agreement to establish The Module Factory,AAR’s estimate that it will manage the teardown, repair, marketing and sales of spare parts of FTAI’s CFM56 engine pool totaling over 200 engines and growing, AAR’s ability to leverage its extensive USM capabilities to offer CFM56 serviceable engine material to the global commercial aviation aftermarket, that the partnership positions AAR well to service the growing demand for USM on a leading engine platform as customers increasingly prioritize more cost-efficient solutions, and the belief that serviceable engine products, combined with FTAI’s proprietary products and partnerships, completes its unique suite of CFM56 aftermarket offerings aimed at delivering the lowest cost per cycle solution to airline customers. Forward-looking statements may also be identified because they contain words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘likely,’’ ‘‘may,’’ ‘‘might,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘seek,’’ ‘‘should,’’ ‘‘target,’’ ‘‘will,’’ ‘‘would,’’ or similar expressions and the negatives of those terms. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including those factors discussed under Item 1A, entitled “Risk Factors”, included in the Company’s Form 10-K for the fiscal year ended May 31, 2016. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company’s control. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. For additional information, see the comments included in AAR’s filings with the Securities and Exchange Commission.